Apache Corporation (APA) PT Raised to $46.00 at Morgan Stanley
Apache Corporation (NYSE:APA) had its price target raised by Morgan Stanley from $45.00 to $46.00 in a report released on Wednesday. Morgan Stanley currently has an equal weight rating on the energy company’s stock.
Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada set a $55.00 target price on shares of Apache Corporation and gave the company a hold rating in a research report on Thursday, August 24th. Jefferies Group LLC reaffirmed an underperform rating and issued a $38.00 target price on shares of Apache Corporation in a research report on Tuesday, October 10th. BMO Capital Markets set a $45.00 target price on shares of Apache Corporation and gave the company a hold rating in a research report on Monday, June 26th. Scotiabank set a $50.00 target price on shares of Apache Corporation and gave the company a hold rating in a research report on Thursday, August 3rd. Finally, J P Morgan Chase & Co cut shares of Apache Corporation from a neutral rating to an underweight rating and decreased their target price for the company from $46.00 to $38.00 in a research report on Thursday, September 14th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $48.88.
Shares of Apache Corporation (APA) opened at 41.53 on Wednesday. The company’s 50-day moving average is $42.91 and its 200-day moving average is $46.31. Apache Corporation has a one year low of $38.14 and a one year high of $69.00. The company’s market cap is $15.82 billion.
Apache Corporation (NYSE:APA) last announced its quarterly earnings data on Thursday, August 3rd. The energy company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.22). Apache Corporation had a negative net margin of 0.07% and a negative return on equity of 1.03%. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted ($0.26) EPS. The company’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts predict that Apache Corporation will post $0.04 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, October 23rd will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, October 20th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. Apache Corporation’s payout ratio is -4,997.50%.
In other news, Director John E. Lowe bought 2,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $40.32 per share, for a total transaction of $80,640.00. Following the completion of the purchase, the director now owns 12,000 shares of the company’s stock, valued at $483,840. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John E. Lowe bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average price of $44.90 per share, for a total transaction of $112,250.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,000. The disclosure for this purchase can be found here. Insiders have purchased 5,500 shares of company stock worth $235,094 over the last 90 days. Insiders own 0.48% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Invictus RG purchased a new stake in shares of Apache Corporation during the first quarter worth approximately $100,000. Hanson McClain Inc. purchased a new stake in shares of Apache Corporation during the second quarter worth approximately $106,000. Parallel Advisors LLC increased its stake in shares of Apache Corporation by 7.4% during the first quarter. Parallel Advisors LLC now owns 2,346 shares of the energy company’s stock worth $114,000 after buying an additional 161 shares during the period. FNY Partners Fund LP increased its stake in shares of Apache Corporation by 500.0% during the first quarter. FNY Partners Fund LP now owns 3,000 shares of the energy company’s stock worth $154,000 after buying an additional 2,500 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new stake in shares of Apache Corporation during the second quarter worth approximately $142,000. Hedge funds and other institutional investors own 94.99% of the company’s stock.
About Apache Corporation
Apache Corporation is an independent energy company. The Company explores for, develops, and produces natural gas, crude oil and natural gas liquids. The Company’s production segments include: the United States, Egypt and the United Kingdom North Sea. It also pursues exploration interests in Suriname.
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